NIA 129 — Payment of crossed cheque out of due course

Negotiable Instruments Act, 1881

Statutory text

Any banker  paying  a cheque crossed
generally otherwise than to a banker, or a cheque crossed specially otherwise than to the banker to whom
the  same  is  crossed,  or  his  agent  for collection,  being  a  banker,  shall be  liable  to  the  true  owner  of  the cheque for any loss he may sustain owing to the cheque having been so paid.

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